US Stocks Slide, Erasing Early Gains as Oil Price Falls
KEEPING SCORE: The S&P 500 index fell 4 points, or 0.2 percent, to 2,484 as of . The Dow Jones Industrial Average lost 45 points, or 0.2 percent, to 23,093. The tech-heavy Nasdaq declined 11 points, or 0.2 percent, to 6,567. The Russell 2000 index of smaller-company stocks gave up 1 point, or 0.1 percent, 1,329.
On Thursday the Dow erased a 600 point loss and finished with a gain of 260 points. The swing was indicative of the volatility that has gripped the stock market throughout December.
THE QUOTE: “It seems like convulsions in either direction have been the real norm for much of December and that’s certainly been the case this week,” said Eric Wiegand senior portfolio manager for
VOLATILE WEEK: Volatility has been the norm in December as investors have grown worried that the testy
HOUSE OF PAIN: Homebuilders fell broadly after the
TECH SLIDES: Technology companies, a big driver of the market’s gains before things deteriorated in October, declined. Adobe slid 1.4 percent to $221.95.
MORE OVERSIGHT: Tesla rose 2.1 percent to $322.88 after naming two independent directors to its board under an agreement with federal regulators.
ENERGY: Oil prices lost some of their early momentum. Benchmark
Energy sector stocks declined.
BOND YIELDS: Bonds prices were little changed. The yield on the 10-year Treasury held at 2.74 percent.
CURRENCY: The dollar declined to 110.39 yen from Thursday’s 110.74 yen. The euro weakened to $1.1442 from $1.1449.
MARKETS OVERSEAS: In Europe,